Another FTX would do it, especially if Trump pardons the next SBF because he bought some of his coin. This will scare investors away from the crypto market for another 10 years.
Bitcoin market has never stopped spinning and it won't. After some big exchange hacks, collapses like Mt.Gox, FTX, Bitcoin market has been continuing its operation and its growth is rapidly parabolic.
Nobody here is talking about Bitcoin "stopping". If BTC retreated to $1000 right now, it wouldn't be "stopped".
FTX caused a dip in Bitcoin that lasted quite a while, and I would argue that there would be a "fool me twice" sort of effect if there was another major failure like that. Bitcoin has absolutely no intrinsic value, so it will always necessarily be very volatile in its price--and thus very sensitive to bad market news (in South Korea last week it briefly fell to $40k when they had political unrest for instance).
Today, Bitcoin's price is propped up by a much broader group of investors, many of whom are smaller consumer investors who are much more skittish.
If a collapse, bankruptcy of a single centralized exchange can destroy Bitcoin market, it isn't a strong market and no longer attractive for investors.
Again, nobody here is talking about "destroying" anything, but certainly a major market scare could drag BTC down by 90% and keep it that way for five years or more. That will "destroy" a lot of people's retirement savings, but Bitcoin itself as a technical platform will be totally fine.
A US recession would also do it: all of those crypto bros needing to cash in their bags to pay their bills after they lost their jobs? That would cause a crypto death spiral.
Does it sound true if you know of reasons for Bitcoin Genesis Block in January 2009?
Oh come on, Bitcoin is 5000 lightyears from it's origins today. People buy Bitcoin for one reason, which is to sell it later for more. It is a speculation instrument.
I get that if you are an "OG bitcoiner", you have no use for all of these n00bs that don't know the philosophy behind Bitcoin, but guess what: if these n00bs leave, then then Bitcoin loses 90% of its market value because their money leaves too.